Capital One announced plans Monday to expand its base of operations into Chesterfield County, Virginia. The new site, to be located in the River’s Bend complex just south of the James River, will employ up to 600 associates.
The announcement of the Virginia-based expansion plans comes on the heels of Capital One’s announcement that it expects to hire more than 2,000 associates worldwide in 1998.
“Over the past three years as an independent company, our growth has been phenomenal. We have consistently achieved 20 percent plus growth in earnings per share,” said Richard D. Fairbank, Chairman and Chief Executive Officer. “1998 promises to be just as successful for Capital One as we continue to expand in domestic and overseas markets, to innovate new products and to hire skilled associates. We are targeting both earnings growth and return on equity of 20 percent for 1998.”
Operations in the greater Richmond area also include information technology services, customer relations call centers, production services, and many staff support functions. The new site will function as a customer contact center, and will enable Capital One to better service its more than 12 million customers worldwide. It measures approximately 78,000 square feet and is located at 701 Liberty Way in Chester, Va.
At today’s announcement, Virginia Governor Gilmore said, “Capital One has used cutting edge technology to become a true Virginia success story, and I am excited by its continued growth and commitment to its home state.”
Nigel Morris, President and Chief Operating Officer, responded, “Richmond has served as our home base since we became a public company in 1994. We want to share our success with our Virginia-based associates, and we are pleased that the state and Chesterfield County officials enthusiastically supported Capital One’s expansion plans.”
With operations already in Richmond, Fredericksburg and Falls Church, Va.; Tampa, Fla.; Dallas/Fort Worth, Texas; as well as London and Nottingham, UK, Capital One presently employs over 6,000 associates worldwide. More than 4,000 of Capital One’s 6,000 associates are located in the Richmond metropolitan area.
Local residents interested in learning more about employment opportunities with Capital One should call 1-800-77-HIRE-1. Capital One is already accepting applications to staff the new site. In addition to competitive salaries, associates also receive a generous compensation package that was designed by Capital One associates when the company went public. (Capital One is also recruiting for its West End, Richmond operations.)
Capital One Financial Corporation is a financial services company whose principal subsidiaries, Capital One Bank, and Capital One, F.S.B., offer consumer lending products. Capital One’s subsidiaries collectively had 11.7 million customers and $14.2 billion in managed loans outstanding at December 31, 1997, and are among the largest providers of MasterCard and Visa credit cards in the world.Details